Bitcoin shoots past $18,000 for the first time since December 2017

[NewsFeeder]

Bitcoin shoots past $18,000 for the first time since December 2017

Bitcoin is now creeping up toward the all-time high it posted in a late 2017 rally that saw the values of several cryptocurrencies surge.

More @ CNBC...

 

[bmneveu]

Thank you PayPal

 

[Bullitt]

You been using PayPal to buy crypto? Fees don't look that bad, and I would trust bitcoin as one of the top reliable companies in the business to keep any coin safe.

 

[bmneveu]

You been using PayPal to buy crypto? Fees don't look that bad, and I would trust bitcoin as one of the top reliable companies in the business to keep any coin safe.

Negative. Fees are far lower through Robinhood or Binance. But all the PayPal volume is what is pumping BTC price up. Just read this morning they are at 75% of Binance volume already, and Binance is the largest crypto exchange in the world.

 

[Bullitt]

I knew that PYPL was allowing bitcoin purchases, but not sure if that's really what's driving the ramp up. I can't imagine most PYPL accounts doing any more than a few bucks here and there for purchases.

China controls most of the bitcoin miners and it appears government intervention is affecting liquidity.

As the Chinese government is cracking down on the exchange of crypto and legal currency, Chinese miners are facing a major problem in paying electricity bills. 74% of the miners surveyed told Wu that the payment of electricity bills has been greatly affected.

https://twitter.com/WuBlockchain/status/1328188103685619712?ref_src=twsrc%5Etfw

At this point I'm wondering how many are still holding that bought in the last bubble top and are looking to break even. In my workplace there were daily discussions about bitcoin from people that wanted in on the action but had no idea how to buy it.